Todays Report: The Oppenheimer Holdings Inc. Reaffirms Outperform Rating for Global Payments Inc. (GPN)

The Oppenheimer Holdings Inc. Reaffirms Outperform Rating for Global Payments Inc. (GPN)

Oppenheimer Holdings Inc. restated their outperform rating on shares of Global Payments Inc. (NYSE:GPN) in a research report sent to investors on Friday morning. The brokerage currently has a $85.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank AG reiterated a buy rating and set a $79.00 target price (up from $72.00) on shares of Global Payments in a research note on Tuesday, July 12th. Zacks Investment Research upgraded Global Payments from a hold rating to a buy rating and set a $79.00 target price on the stock in a research note on Wednesday, June 29th. Nomura lifted their target price on Global Payments from $64.00 to $66.00 in a research note on Friday, July 29th. Wedbush reiterated an outperform rating and set a $85.00 target price on shares of Global Payments in a research note on Thursday, September 8th. Finally, Barclays PLC boosted their price objective on Global Payments from $73.00 to $75.00 and gave the company an equal weight rating in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $77.92.

Global Payments (NYSE:GPN) opened at 73.70 on Friday. Global Payments has a 12-month low of $51.29 and a 12-month high of $79.93. The company has a market cap of $11.33 billion, a PE ratio of 37.93 and a beta of 1.09. The stock has a 50 day moving average of $75.87 and a 200-day moving average of $74.34.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, October 5th. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. The company had revenue of $939.50 million for the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The company’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. On average, equities research analysts anticipate that Global Payments will post $3.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.05%. The ex-dividend date of this dividend is Tuesday, November 8th. Global Payments’s dividend payout ratio is currently 2.06%.

In other Global Payments news, COO David E. Mangum sold 8,400 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $74.71, for a total value of $627,564.00. Following the completion of the sale, the chief operating officer now owns 172,060 shares of the company’s stock, valued at $12,854,602.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $76.61, for a total value of $497,965.00. Following the completion of the sale, the director now directly owns 362,063 shares of the company’s stock, valued at approximately $27,737,646.43. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of GPN. Acrospire Investment Management LLC raised its stake in shares of Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock valued at $114,000 after buying an additional 700 shares in the last quarter. Financial Architects Inc raised its stake in shares of Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock valued at $115,000 after buying an additional 1,501 shares in the last quarter. PineBridge Investments L.P. purchased a new stake in shares of Global Payments during the second quarter valued at about $139,000. IFP Advisors Inc raised its stake in shares of Global Payments by 39.1% in the second quarter. IFP Advisors Inc now owns 2,263 shares of the company’s stock valued at $162,000 after buying an additional 636 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. purchased a new stake in shares of Global Payments during the second quarter valued at about $168,000. 96.56% of the stock is owned by institutional investors and hedge funds.

Global Payments Company Profile

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